State Street Digital Company starts the year with $3500 in its Estimated Warranty Payable account. During the year, there were $213,000 in sales and $4900 in warranty repair payments. State Street Digital estimates warranty expense at 4% of sales. The Warranty Expense for the year is ________.
A) $8520
B) $4900
C) $3500
D) $7120
A) $8520
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According to the needs hierarchy theory, ________ needs are based on job security and financial security
A) physiological B) safety C) ego D) social
Tasha was selling siding and her boss told her that she could hide an extra charge for trim in the total, even though the customer was told he would not be charged for trim. Tasha was told this was standard practice for the siding company. If the customer takes legal action for this, who is most likely liable?
A. Tasha only, because she wrote the order B. no one, because this would be considered a victimless crime C. Tasha's boss only, since he told her to do it D. the customer for not checking the order more carefully E. both Tasha and the siding company, because both intentionally misled the customer
Andre formed a corporation and owns all the stock. He contributed property with a FMV of $10,000 and a basis of $7,000 and he received $1,000 cash from the corporation. Andre's taxable gain is:
A. $10,000. B. $1,000. C. $3,000. D. $0.
Identify and discuss three types of pricing associated with business products.
What will be an ideal response?